1. Introduction
This study is going to focus on exploring the relationship between Corporate Social Responsibility and financial performance with emphasis on the petroleum industry and British Petroleum in particular. The research will investigate and identify the main drivers of CSR, its guiding principles and it transition from a social program into a business plan by. The role of stakeholders and
6. Theoretical Underpinning
The European Commission (2001) describes CSR as a concept whereby companies intergrade social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis. Most importantly Carrolls pyramid (1979) indicates that CSR includes the economic, legal and ethical expectations at different time points. Other scholars, Porter (2006) note that CSR witnessed a transition from a social voluntary program into a business plan. In an attempt to measure stakeholders returns Moskowitz (1972) and Abbott (19790) used
various methods like changes in share price plus dividends and the amount of earnings per share with the results being vague and raising concerns about their reliability .
2. Research Questions
What are the main drivers of Corporate Social Responsibility?
of BP
7. Discussion
With the irreversible trend that suggests companies to consider
crisis.
CSR
8. References
Carroll, A. 1991. The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders. Business Horizons, Vol 34, (4) Waddlock, S & Graves, S (1997). The corporate social performance-financial performance link. Strategic Management Journal, Vol 4 Carroll, A. 1979. A three-dimensional conceptual model of corporate performance. The Academy of Management Review CSRHUB, 2012. BP PLC Report. [Online] Available at: http://www.csrhub.com/CSR_and_sustainability_information/BPPLC/ [Accessed 20 November 2013]
Stakeholders
Petroleum Industry
CSR Strategies
Financial Performance
Business Ethics
Sustainability